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Asia-Pacific markets post slight gains
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Index futures in Europe and the US point to higher openings in these markets
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Investors' attention turned towards the US CPI reading and the BoC decision
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Decisions key to future monetary narrative
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At 08:00 BST inflation data from Spain
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RBNZ held rates in line with expectations, but indicated that further increases may be necessary
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API data points to a larger increase in US weekly oil inventories
Today's macro calendar is packed with interesting macroeconomic readings. Investors' attention will first and foremost focus on the key CPI data from the US (13:30 BST), which is expected to show a marked decline in the country's inflation dynamics. The second topic of the day will be the BoC's interest rate decision (15:00 BST). The consensus is for the BoC to raise the main interest rate by 25 basis points to 5%. In Europe, investors will learn about Spain's CPI inflation reading (08:00 BST).
The day will culminate with a report on the change in inventories of crude oil and other petroleum products (15:30 BST) and several statements from central bankers.
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08:00 BST, Spain - CPI inflation:
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YoY. Expected - 1.9% y/y, Previous -3.2% y/y
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MoM. Expected - 0.6%
13:30 BST, USA - CPI inflation:
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YoY. Expected - 3.1% y/y, Previously - 4% y/y
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YoY Core. Expected - 5% y/y, Previous - 5.3% y/y
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MoM. Expected - 0.3% m/m, Previously - 0.1% m/m
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MoM Core. Expected - 0.3% m/m, Previous - 0.4% m/m
15:00 BST, Canada - Interest rate decision
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Expected: +25 bps (5%) Previously: 4,75%
15:30 BST, USA - change in oil inventories according to EIA
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Change in oil inventories. Expected: 0.2 bbl; Previously: -1.51 bbl (API: 3.026 bbl)
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Change in gasoline inventories. Expected: -1.2 bbl; Previously: -2.55 bbl (API: -0.7 bbl)
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Change in distillate stocks. Expected: -0.4 bbl; Previously: -1.04 bbl (API: -0.3 bbl)
Central bankers' speeches:
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09:00 BST, GB - Bailey, BoE chairman
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13:30 BST, US - Barkin, Fed member
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14:45 BST, US - Kashkari, FED member
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18:00 BST, US - Bostic, FED member
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21:00 BST, US - Mester, FED member
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